Salary.com put this article out earlier this month. It is a lengthy article written to employees in regards to 2007 areas of compensation, but there are some points to keep in mind not only as you are hiring staff this year but in retaining your current team. These points are complementary to one of our earlier posts on the top reasons why candidates take a job.
If you haven’t read this post, let me highlight the top 4 things candidates are looking for in jobs: A good manager/boss, opportunity to advance, opportunities to learn/grow and balance between work and personal life. Salary.com’s article aligns with 3 of the 4 points from that post. If you are not already doing these things, may I suggest that you start thinking how you can incorporate them into your hiring practice this year?
The first trend they see is the increase in performance-based bonuses. Salaries will not increase significantly this year as the market continues to tighten but bonuses based for performance will.
In the area of advancement, they are seeing leadership development no longer being just an executive perk. Instead, leadership training will be provided to the middle manager giving him or her the ability to develop the additional skills needed to advance.
Another trend is that external and internal training programs are on the rise. This approach gives employees the opportunity to learn and grow within the company. Our economy is a knowledge-based one and without these training programs, companies will no longer be able to be competitive in their market.
Finally, one trend is the ability to work a more flexible schedule or to work entirely from home. With the technological advances – VoIP’s, VPN’s, PDA’s – and all the other acronyms can give your employees the same abilities as if they were sitting in your office.